Ishares Russell 2000 (AMEX: IWM) Break Out Says Market Timer Frank Kollar
May 23, 2007 (FinancialWire) (By Frank Kollar)
Shares of exchange-traded fund Ishares Russell 2000 (AMEX: IWM), lagging the rest of the stock market for the past several months, have broken above their prior highs and appear ready to rally. Current top holdings in Ishares Russell 2000 are, aQuantive, Inc. (Nasdaq: AQNT), Brocade Communications Systems, Inc. (NASDAQ: BRCD) and AK Steel Holding Corp. (NYSE: AKS).
Ishares Russell 2000 has lagged the major indexes since this advance started early last summer. But in the last two trading days, small caps and the Ishares Russell 2000 made solid gains and broke above its prior rally highs. Ishares Russell 2000 looks good till at least the next resistance level at $85.32 a share.
Fibtimer.com (http://www.fibtimer.com) also holds a position in Ishares Russell 2000 in its ETF Timer Portfolio.
Kollar’s research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.
Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.
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